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Delphi Gets Extension
For Reorganization Plan

Updated Jan. 6, 2006 12:01 a.m. ET

Delphi Corp., the Troy, Mich., auto-parts company operating under Chapter 11 bankruptcy protection, was granted an extension until Aug. 5 to file its exclusive reorganization plan. Responses to the plan will be due by Oct. 4.

Bankruptcy law requires companies operating under Chapter 11 to submit a plan outlining how creditors will be paid. Exclusive periods that prevent other parties from submitting such plans to the court allow the company to retain control of the restructuring process without outside interference.